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NumisMedia Weekly

Current News and Analysis
of the United States
Rare Coin Market


Dealers Active in Long Beach as Metals Cooperate

September 11, 2017

     Even with many East Coast dealers either staying home or leaving early because of the hurricanes, dealers in attendance at the Long Beach Expo had better than expected sales as metals held up and the overall show was generally positive.

     While we continue to find declines in some areas where inventories are substantial, there are several series that have solidified over the past few weeks. Morgan Dollars are a good example where much of the declines have been a result of excess inventory and coins that are really low-end for the grade are being discounted. Many of these coins were regraded to their highest level and now appear to many dealers like they are slightly over graded.

     There are several dealers in the market for slightly better Morgan Dollars in MS64 and MS65, but the low-end coins for these grades will not work. The following dates are wanted in quantities; the 1878 S, 1883, 1888, 1896, 1898 O, 1899 O, and 1901 O. In some cases, values have fallen to common date prices and these dealers are willing to pay more for them.

     Heritage Auctions hosted the Long Beach Expo sale and there were several highlights to report. One of just 10 known, a 1795 Reeded Edge Large Cent was sold for $192,000. What is most interesting is that this coin is very low grade, PCGS certified it as genuine. Just shows that a rare coin is still a rare coin and there are strong buyers for rarity.

1795 Reeded Edge Large Cent PCGS Genuine

1795 Reeded Edge Large Cent PCGS 'Genuine' sold for $192,000 at the Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Long Beach, California, September 7-10, 2017

     Another highlight was the 1829 Small Date $5 Gold certified by NGC as Improperly Cleaned AU; it brought $120,000. The first value listed in the NumisMedia Dealer Price Guide has a Market value of $275,000 in MS60.

     The 1792 P Copper Disme in PCGS AU50 sold for $180,000; this is one of only 19 known examples. Below are some other rarities that sold in the Heritage Auctions sale this past week.

 
Date/Denomination
 
Grade
Price
Realized
1793 Large Cent Liberty CapNGC VG10$102,000
1969 S Lincoln Cent DDOPCGS MS61 BN$27,600
1821 Capped Bust QuarterNGC MS65 CAC$30,600
1918 D Standing Liberty QuarterPCGS MS67 FH$40,800
1794 Flowing Hair Half DollarNGC XF40$26,400
1904 S Barber HalfPCGS MS64 CAC$19,800
1921 D Walking Liberty HalfPCGS MS64+ CAC$19,200
1873 CC Trade DollarPCGS MS63$21,000
1807 $5 Gold Bust RightNGC MS64$33,600
1899 $5 GoldNGC PR65 UCam$28,800
1795 $10 Gold Capped Bust 13 LeavesNGC AU55$66,000
1908 D $10 Gold Indian No MottoNGC MS66$50,400
1861 O $20 GoldPCGS AU50$48,000
1881 S $20 GoldNGC MS63 CAC$23,400
1907 $20 Gold St. Gaudens High ReliefPCGS MS65$48,000
1925 S $20 Gold St. Gaudens PCGS MS63$13,200









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NumisMedia Weekly Archive
Current News and Analysis of the U.S.
Rare Coin Market